Lodha Group to invest Rs 2,000 cr in iThink realty brand

MUMBAI: Mumbai-based realtor Lodha Group on Monday said it will invest Rs 2,000 crore in various commercial real estate projects, under the brand 'iThink', in the city.

As part of the group's immediate plans, over 46 lakh sq ft of land has been earmarked for six iThink projects in the metropolis. Construction work has already commenced on the first IT Park and Techno Campus at Kanjurmarg and Corporate Campus at Mahalaxmi, the company said in a release.

Other locations that the group will commence construction on commercial projects shortly are Parel and Thane, it added.

"We have already commenced construction at Kanjurmarg and are in advanced stage of planning on five more projects. We will dedicate over 25 per cent of our current land bank to commercial projects and have currently earmarked Rs 2,000 crore for iThink projects," group director Abhishec Lodha said.

The iThink Techno Campus at Kanjurmarg will be spread across 18 lakh sq ft while the iThink Techno Campus at Thane will commence construction shortly at three locations over an area totalling 22.5 lakh sq ft.

The iThink Corporate Campus at Mahalaxmi is under construction and will be spread in an area of 4.5 lakh sq ft. Construction at the Corporate Campus at Parel will commence shortly over an area of 1.5 lakh sq ft, the release said.